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Halifax and Experian team up to help rejected applicants

Halifax and Experian have teamed up to offer customers a service which aims to help unsuccessful applicants understand why they have had their mortgage application rejected.

The new scheme offers unsuccessful applicants unlimited access to a bespoke CreditExpert membership and a team of 15 credit experts who will provide advice on what is impacting their credit score.

All customers will have a 30-day free trial to the service. After this, applicants will be charged for the service.

Currently, unsuccessful applicants are not given reasons why their mortgage application was rejected.

Halifax commercial director Stephen Noakes says: “Although eight out of 10 borrowers are successful in getting a mortgage, we do not want the unsuccessful few to feel like they have hit a brick wall if they are turned down. However, lenders are limited in what we can say about someone’s credit profile, and we know that has not been particularly helpful.

“By developing this new service with CreditExpert, it means that we can really help first-time buyers understand what they need to do in order to come back to us and be successful in their application.”



FSA scraps TCF workshops

The FSA has cancelled its programme of regional workshops on treating customers fairly to concentrate its resources on the move to the new regulatory restructure and the RDR. The FSA has been carrying out its regional small firms TCF assessment programme since March 2008. It has included roadshows, face-to-face-visits and phone interviews. The regulator scheduled […]


Friends Life splits between open and closed business

Friends Life is to split its operations between an open book and a closed book of business in a move that will see four million of the provider’s customers move into the closed book. The move, revealed earlier this month by Money Marketing, will see director Evelyn Bourke run the new UK Heritage Business as […]

Is this an equities bargain?

With a month still to go until St Leger Day, investors who are easily unnerved by short-term market fluctuations may wish they had followed the advice in the adage and sold up at the end of May and taken a relaxing break over the summer months. The volatility that has plagued markets this year has […]

Van Der Wielen appointed MD of Friends Life International

Friends Life has appointed former Clerical Medical chief executive John Van Der Wielen as managing director of its international arm. Van Der Wielen will join at the end of the year, reporting directly to chief executive officer Andy Briggs, and become part of the group’s executive committee. He left Clerical Medical in February 2010 after […]

The savvy consumer

In last year’s FCA thematic review of the mortgage market, one of the key things highlighted was the “savvy consumer”. That’s the client who comes in the door with a very clear idea of what they need and expect you to get them it. They don’t think they need advice, they have after all consulted […]


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